Bonds Markets News - BusinessDay.co.nz

Bonds

World Bank floats kauri bonds

Reuters

The International Bank for Reconstruction and Development, part of the World Bank, has launched a five-year New Zealand dollar-denominated kauri bond, a joint lead said.

Govt mulls local govt bond bank

BY ADRIAN CHANG - © Fairfax NZ News

The Government says it is considering creating a local body "bond bank" which would help finance up to $30 billion in planned infrastructure costs over the next decade.

S&P sees strength in Hubbard

BY JONATHAN UNDERHILL - © Fairfax NZ News

Standard & Poor's says it has noticed the spike in South Canterbury Finance's 2012 bonds, which yielded more than 14 per cent this week.

US junk bond default rate set to jump

Reuters

The US high yield bond default rate will rise to between 14 percent and 16 percent, comparable to the rate during the Great Depression.

US sweetens bonds to draw buyers

Reuters

Investors sent a clear signal to the US government. Pay up.

Soup or bonds?

Reuters

Is Campbell's Soup a better bet than US government debt?

Govt to sell more bonds

The Government will sell a record amount of bonds to fund its deficit next year but the amount is less than some market commentators predicted.

US debt drives bond rout

Reuters

US government bonds came under heavy pressure again as investors worried about the ever-expanding amount of debt needed to fund a record US$1.75 trillion budget deficit.

Downer to raise $150m in bonds

AAP

Engineer Downer EDI is to seek to raise at least $100 million through bonds issued on the New Zealand market.

Downer considering bond sale

Reuters

The New Zealand unit of Australian engineering contractor Downer EDI Ltd is considering the sale of a New Zealand dollar three-year senior bond offer.

Fairfax considers bond buyback

AAP

Fairfax Media Ltd is considering buying back up to $A200 million of its bonds.

BNZ capital raising

Reuters

Bank of New Zealand plans to sell up to $150 million of Tier 1 notes at a margin of 400 to 425 basis points over the five-year swap rate, a market source who has seen the term sheet said.

Bond boost for banks

BY CHRIS ZAPPONE - © Fairfax NZ News

Australian banks, already the beneficiaries of government guarantees and the exit of many of their competitors, now stand to get another boost from Canberra's largesse.

Kiwi money sails away

BY DAVID HARGREAVES - © Fairfax NZ News

Kiwis who invested $91 million in an extremely complex bond issue have now seen effectively all their money wiped out.

First bond sale for Microsoft

Reuters

Microsoft Corp sold a $US3.75 billion debt issue in its first foray into the US corporate bond market, joining a spate of companies taking advantage of beneficial borrowing conditions.

Govt introduces longer-dated bonds

The Government is upping the amount of money it is raising from the sale of bonds in the current financial year by $1 billion and is signalling the sale of more longer-dated bonds.

Bond market could spur mining M&A

Reuters

A surge among miners in bond fund raising and debt refinancing, along with stronger markets, is creating a friendlier environment for takeovers and bank lending needed for the deals.

Vector offers $150m in bonds

Vector Ltd is planning to sell $150 million of bonds paying a minimum interest rate of 7.5 percent.

NZ Post raises $200m

New Zealand Post Group Finance said it sold $200m of unsecured, subordinated notes, which carry an initial interest rate of 7.5 percent.

Bank bonds are wallflowers

Reuters

Investors are mostly shunning bank bonds as a vote of "no confidence" in the US banking system, while they are snapping up the debt of industrial companies.

Rabobank to offer PIE securities

Rabobank Nederland, the Dutch bank which raised $NZ900 million in New Zealand in 2007, is signalling a return to the New Zealand market.

Investors snap up NZ company bonds

Reuters

New Zealand corporate debt issuance is already at a record level this year, and is set to rise further in the next six months.

Contact raises $550m

Contact Energy has raised $550 million through a public debt offer. The power generator will use the money in its investment programme.

Investors tip towards risk with US govt backing

Reuters

US federal government programs aimed at reviving the country's fixed-income markets are forcing investors to wrestle with tough decisions since the aid won't float all bonds equally.

ANZ raises US$1b in govt backed bonds

ANZ National has become the first New Zealand bank to use the Government's wholesale guarantee to raise money offshore since the scheme was introduced.

Tower raises $81.7m in bonds

Fund manager and insurer Tower has raised $81.7 million in a potential $100 million bond issue which opened more than a month ago.

NZ Post $200m bond offer opens

New Zealand Post is raising $200 million through the issue of unsecured notes, including oversubscriptions of $50 million.

Vector considering $150m bond offer

Vector is considering raising up to $150 million in funds on the bond market.

Expert urges inflation link to govt bonds

BY KRIS HALL

The Government must issue long-term inflation-proofed stock if it wants to steady both interest rates and the economy, an investment expert says.

Moody's downgrades Transpower

BY AARON LIM - © Fairfax NZ News

Credit agency Moody's Investors Service has downgraded the long-term rating of Transpower New Zealand Ltd and Transpower Finance from Aa2 to Aa3.

BHP floats $3b in bonds

Reuters

Global miner BHP Billiton has sold US$3.25 billion in bonds, it said.

Infratil happy to buy its perpetual bonds

Corporate bond have been popular lately but perpetual bonds like those issued by infrastructure investor Infratil have fallen out of favour.

Fonterra sets rate on bonds

Reuters

Fonterra Co-operative has set the final coupon on its issue of $800 million in 6-year bonds.

Contact raises $550m

Contact Energy has raised $550 million in five days.

Bond spreads widen

Reuters

Asian bond spreads widened on caution ahead of the release of jobs data in the US.

AMP launches retail bonds

Reuters

Fund manager AMP Group has launched a rare subordinated debt offer of up to $A300 million equivalent aimed at retail investors.

Contact offers $300m at 8pc

Contact Energy says its $300 million retail bond offer will offer investors interest of 8 percent per annum, with quarterly payments.

Auckland City Council to raise $150m in bonds

Auckland City Council is looking to raise up to $150 million in bonds from retail investors in an offer which opens on February 23.

Tower planning $100m bond offer

Tower is considering a public bond offer of up to $100 million to pay off bank debt and for working capital, the insurer and fund manager said today.

NZ Post plans $200m bond offer

Reuters

New Zealand Post Ltd, owner of Kiwibank, plans to raise up to $200 million in subordinated notes to repay debt, the state-owned company said.

Investec to sell A$400b in bonds

Reuters

Investec Bank Australia plans to sell around A$400 million of three-year bonds backed by a government guarantee, a market source said.

Fonterra sets terms for $300m bond offer

Reuters

Fonterra Co-operative Group Ltd has set preliminary terms on a $300 million 6-year bond issue, a joint lead said.

Contact Energy seeks $300m in bonds

Reuters

Contact Energy Ltd said that it planned to issue up to $300 million in bonds.

Fonterra bond offer 267pc oversubscribed

The nation's biggest company, Fonterra Co-operative Group, says its $300 million 6-year bond issue has been oversubscribed by 267 percent.

Appetite for junk bonds on the rise

Reuters

The US junk bond market is set to absorb $1.4 billion of new issuance from three deals as investor appetite for riskier new debt remains strong.

Reaction to bond issue bodes well

BY CHRIS GARDNER - © Fairfax NZ News

New Zealand may be weathering the world financial storm better than expected if market reaction to Fonterra's $300 million six-year bond is anything to go by.